BTS brings in 3.6 billion to the Korean Economy
BTS brings in 3.6 billion to the Korean Economy. According to a research institute, the South Korean boyband BTS is worth more than $3.6 billion to the country’s economy each year, which is equivalent to the contribution of 26 mid-sized businesses.
According to the Hyundai Research Institute, the floppy-haired singers were also the reason that one out of every 13 foreign tourists visited South Korea in 2017.
BTS — short for Bangtan Sonyeondan, which translates as Bulletproof Boy Scouts — have become one of South Korea’s best-known and most valuable musical exports, thanks to their boyish good looks and meticulously choreographed dance moves.
The septet became the first K-pop band to top the US album charts earlier this year, demonstrating the genre’s growing global appeal.
According to the institute, this appeal has helped boost the brand image of South Korean products abroad, making BTS a valuable economic asset.
BTS brings in 3.6 billion to the Korean Economy
The group’s annual production inducement effect (the total economic value generated by related industries) was estimated by researchers to be 4.1 trillion won ($3.63 billion) per year, the same as 26 mid-sized South Korean companies.
Last year, it is estimated that 800,000 tourists chose South Korea as their destination because of BTS, accounting for more than 7% of total visitors to the country.
It stated that they were associated with more than $1 billion in consumer exports such as clothing, cosmetics, and foodstuffs.
Thus they estimate, that BTS brings in an astonishing US$3.6 billion to the Korean economy annually.
If BTS maintains its popularity, the institute estimates that it will generate 41.8 trillion won in economic value over the next ten years.
Source: The Korean Herald
K-POP, also known as Korean pop music, has taken the world by storm. Since its debut in the mid-1990s, the musical genre has spawned a wave of successful groups heading for pop culture dominance. You are probably familiar with the most famous K-Pop groups such as BTS, Blackpink, and SEVENTEEN. Embracing traditional Korean sounds while celebrating Western music influences such as hip-hop, electronic dance, and R&B, groups like the ones listed above and below are some of the catchiest and most beloved bops of the last few decades. have provided.
Over the years, these K-pop bands of his have captivated audiences and amassed legions of fans with their inspirational and uplifting songs. Band members, also known as idols, work tirelessly and undergo extensive vocal, media, and choreographic training before appearing on stage for the first time in groups of 4 to 21 artists.
While bands are busy collectively releasing music and celebrating solo projects every few months, K-pop stars often venture into acting, fashion, and other creative industries. is admired worldwide for its work and talent.
Top 10 K Pop Bands
According to Seventeen.com, the top ten K Pop bands are as follows
- Girls’ Generation
- Red Velvet
BTS the No. 1 K Pop Band
Originally known as Bangtan Boys, BTS is a South Korean boy band that has achieved great success after its debut in 2013. At the American Music Awards, he became the first Asian artist to win the American Music Awards Artist of the Year. The estimated net worth of the group of seven is $100 million and each idol’s net worth is around $20 million.
However, it may be a while before BTS’s new music becomes available. During the annual FESTA event, the band announced in a video uploaded to YouTube that they were “going on hiatus.” A rep for BTS confirmed that they have not disbanded, but said, “At this point, it will take time to consider several solo projects and continue activities in various formats.
As of 2022, BTS is the best-promoting artist in South Korean history, having bought an extra of 30 million albums through the Circle Chart, and their studio album Map of the Soul: 7 (2020) is the best-promoting album of all time in South Korea. They are the primary non-English-talking and Asian act to preserve bought-out concert events at Wembley Stadium and the Rose Bowl (Love Yourself World Tour in 2019), and have been named the International Federation of the Phonographic Industry’s (IFPI) Global Recording Artist of the Year for each 2020 and 2021.
The group’s many accolades consist of a couple of American Music Awards, Billboard Music Awards, Golden Disc Awards, and nominations for 2 Grammy Awards. In 2017, they partnered with UNICEF to set up the Love Myself anti-violence campaign, happening to cope with 3 classes of the United Nations General Assembly. Featured on Time’s worldwide cowl as “Next Generation Leaders” and dubbed the “Princes of Pop”,
BTS has additionally seemed on Time’s list of the 25 maximum influential human beings at the internet (2017–2019) and the a hundred maximum influential human beings withinside the world (2019), and in 2018 have become the youngest recipients of the Order of Cultural Merit from the President of South Korea for his or her contributions in spreading Korean subculture and language.
So no wonder that BTS brings in an astonishing US$3.6 billion to the Korean economy.
Winners Of 2022 The Fact Music Awards
On October 8th, the Fact Music Awards were held with an audience for the first time in three years!
BTS has won Daesang (Daesang) for the fifth year in a row, with a total of seven awards at this year’s awards ceremony. In addition to Taeyang, the group also received the Artist of the Year (Bongsang), Fan N Star Most Votes Award, Idol Plus Popularity Award, Global Fan N Star Award, Fan N Star Choice Award as a member, and Jin won. did. Personal Fan N Star Choice Award for the year.
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